Check How Low Your Assessed Income Must Be for the 2026 Basic Pension

What is the eligibility threshold?

The Ministry of Health and Welfare says it set the threshold so that it covers roughly 70% of people aged 65 and over. Being at or below the threshold means that the amount reflecting assets as well as income is at or below it, not income alone.

How is assessed income calculated?

Assessed income is the income evaluation amount plus the income-converted value of your assets. The income evaluation amount includes earned income, pension income and business income, and assets are converted into income, covering general assets and financial assets. For the detailed deduction items, the surest way is to check with the Bokjiro simulation or a National Pension Service consultation.

When and where do you apply?

According to Bokjiro, you can apply starting one month before the month of your 65th birthday. There are three places to apply: a neighborhood administrative welfare center, a National Pension Service branch, or online at Bokjiro. Applying online requires a joint certificate. People receiving occupational pensions such as the civil servant pension, and their spouses, are in principle excluded, and exceptions need to be checked individually.

How much is paid, and when?

Bokjiro lists the 2026 standard pension amount as KRW 349,700 and the payment date as the 25th of every month. The amount actually paid can differ, since National Pension benefits and similar factors are taken into account. If both spouses receive it, a 20% reduction applies to each person's amount.

What if you apply and are rejected?

A rejection isn't the end. Bokjiro explains that you can apply again if your income or assets have changed. If your earned or business income drops or the size of your assets changes, your assessed income changes too, so check again whenever your situation shifts.

Results are sent to you individually, and there is an appeal procedure if you disagree. Check the instructions on the notice.

What should you prepare before applying?

An ID and a copy of a bankbook in your own name are the basics, and a lease contract or a spouse's financial information consent form may also be needed. The documents can vary by office, so confirm with the National Pension Service at 1355 or your administrative welfare center before you go. The National Pension Service's Basic Pension simulation can also give you an estimate of your expected benefit and assessed income in advance. If getting out is difficult, you can request a service where a staff member visits your home.

Does the threshold change every year?

Yes. The Ministry of Health and Welfare announces a new threshold each year. Even if you were turned down last year for being over the line, you may qualify under this year's threshold, so check again against the new figure regardless of the earlier result. If you're checking on behalf of a parent, bring the household's income and asset information together, and the consultation goes faster.

Where can you ask questions?

You can get advice from the National Pension Service at 1355 (no area code) and at your nearest administrative welfare center. Thresholds and amounts can change with policy revisions, so check Bokjiro's latest notice before you apply. The date checked is 2026-10-08.